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The Franklin Forge: Our Invention Assessment Process

We offer a free invention assessment and reject over 90% of the ideas we review. If you submit your idea for assessment, you are not obligated to continue with our company if it passes our review.

In order for a new idea to have a chance for success, specific criteria must be met:

1. There must be a decent potential market.

The potential market may be a broad market, such as a household or an automotive product; or it may be targeted for a specific market segment, such as pet supplies, baby products or camping products.

2. It must satisfy a need…be it a real need or a perceived need.

A real need is a manual can opener. Every household needs to have a can opener. A perceived need is an electric can opener. Most people do not need an electric can opener, but they like the convenience.

3. It must be simple.

A simple product is ready-to-use with little or no assembly. It should be user-friendly.

4. It must be effective.

Whatever its intended purpose…it must be efficient and effective.

5. It must be affordable.

You may have heard this statement, "Build a better mousetrap, and the world will beat a path to your door." However, if that mousetrap cost the consumer $200.00, the world is going to pass by that door.

High cost is the number one reason why we reject an idea. If it is too expensive to produce, it will be too expensive for the majority of public to buy.

The assessment process takes twenty-four hours from the time we receive your idea. Once the process is complete, we will contact you to tell you why it has been accepted or rejected.